First Merchants Analyst Price Targets

Wall Street analyst price targets and consensus rating for First Merchants (FRME).

Price Target Range — 12 Quarters

Analyst Consensus — 3 Analysts

3Buy

Consensus RatingOverweight# Analysts3Avg. Consensus PT$46Upside to Avg. PT+18.9%

Rating Trend — Last 9 Months

Recent Analyst Actions

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Date	Firm	Analyst	Action	Rating Change	Price Target
Oct 6, 2026	Raymond James	Daniel Tamayo	Upgrade	Market Perform→Outperform	$46
Oct 5, 2026	Piper Sandler	Nathan Race	PT Cut	Overweight	$51→$46
Jun 26, 2026	Piper Sandler	Nathan Race	PT Raise	Overweight	$49→$51
Feb 4, 2026	Piper Sandler	Nathan Race	PT Raise	Overweight	$46→$49
Oct 27, 2025	Piper Sandler	Nathan Race	PT Cut	Overweight	$48→$46
Sep 29, 2025	Stephens & Co.	Terry McEvoy	Maintained	Equal-Weight	$46
Sep 26, 2025	Raymond James	Daniel Tamayo	Downgrade	Outperform→Market Perform	—
Sep 26, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$49→$50
Jul 28, 2025	Piper Sandler	Nathan Race	PT Cut	Overweight	$49→$48
Apr 28, 2025	Raymond James	Daniel Tamayo	PT Cut	Outperform	$46→$43
Apr 28, 2025	Piper Sandler	Nathan Race	PT Cut	Overweight	$55→$49
Apr 25, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Cut	Outperform	$52→$49
Apr 2, 2025	Raymond James	Daniel Tamayo	PT Cut	Outperform	$50→$46
Jan 31, 2025	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$50→$52
Jan 31, 2025	Raymond James	Daniel Tamayo	PT Raise	Outperform	$42→$50
Jan 31, 2025	Piper Sandler	Nathan Race	PT Raise	Overweight	$52→$55
Dec 4, 2024	Keefe, Bruyette & Woods	Damon Delmonte	PT Raise	Outperform	$43→$50
Oct 28, 2024	Piper Sandler	Nathan Race	PT Cut	Overweight	$50→$47
Aug 28, 2024	Keefe, Bruyette & Woods	Damon Delmonte	Maintained	Outperform	$45
Aug 7, 2024	Stephens & Co.	Terry McEvoy	Downgrade	Overweight→Equal-Weight	$45→$38

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Analyst Ratings News

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and lowers the price target from $51 to $46.

Benzinga Newsdesk

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and raises the price target from $49 to $51.

Benzinga Newsdesk

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and raises the price target from $46 to $49.

Benzinga Newsdesk

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

Piper Sandler analyst Nathan Race maintains First Merchants (NASDAQ:FRME) with a Overweight and lowers the price target from $48 to $46.

Benzinga Newsdesk

PRO
Stephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

Stephens & Co. analyst Terry McEvoy reiterates First Merchants (NASDAQ: FRME) with a Equal-Weight and maintains $46 price target.

Benzinga Newsdesk

PRO
Raymond James Downgrades First Merchants to Market Perform

Raymond James analyst Daniel Tamayo downgrades First Merchants (NASDAQ: FRME) from Outperform to Market Perform.

Benzinga Newsdesk

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First Merchants Analyst Price Targets

Recent Analyst Actions

Analyst Ratings News

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PRO
Stephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

PRO
Raymond James Downgrades First Merchants to Market Perform

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First Merchants Analyst Price Targets

Recent Analyst Actions

Analyst Ratings News

PROPiper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PROPiper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

PROPiper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

PROPiper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PROStephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

PRORaymond James Downgrades First Merchants to Market Perform

People Also Watch

People Also Watch

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $51

PRO
Piper Sandler Maintains Overweight on First Merchants, Raises Price Target to $49

PRO
Piper Sandler Maintains Overweight on First Merchants, Lowers Price Target to $46

PRO
Stephens & Co. Reiterates Equal-Weight on First Merchants, Maintains $46 Price Target

PRO
Raymond James Downgrades First Merchants to Market Perform